General Motors is making bold moves in the electric vehicle arena, unveiling the new $80,000 performance version of its Cadillac Lyriq in a bid to dominate the luxury EV market by 2025. With plans to expand its electric lineup, Cadillac is setting its sights on becoming the top-selling luxury EV brand in the U.S. this year, aiming to outshine competitors like Audi and Mercedes-Benz.
The Luxury EV Landscape
During a recent media briefing, Cadillac Vice President John Roth declared their goal of claiming the title of the best-selling luxury EV brand by 2025. However, the definition of “luxury” in the EV market remains up for debate. While Cadillac excludes Tesla from their luxury category, citing alternative competitors such as Audi and Mercedes-Benz, the reality is that Tesla leads the U.S. EV market by a significant margin.
Cox Automotive reports that Cadillac’s sales of nearly 30,000 EVs last year put them in close competition with BMW, Audi, and Mercedes-Benz. In contrast, Tesla is estimated to have sold over 633,000 EVs in the U.S. during the same period. The competition is fierce, with Tesla offering a range of vehicles from the affordable Model 3 to the high-end Cybertruck and Model S Plaid, while Cadillac’s upcoming EVs are expected to range from $54,000 to over $150,000.
The Cadillac Lyriq: A Performance Powerhouse
One of Cadillac’s most anticipated offerings is the Lyriq-V, boasting an impressive 615 horsepower, 650 foot-pounds of torque, and a 285-mile range on a full charge. This powerhouse of a vehicle is projected to accelerate from 0-60 mph in just 3.3 seconds, setting a new standard for electric performance. The Lyriq-V will be part of Cadillac’s V-Series lineup, featuring unique badging and enhanced performance parts to elevate the driving experience.
Cadillac’s commitment to electrification is evident in their plans to have five EVs on the market by the end of this year, matching Tesla’s offerings. The Lyriq-V, with a starting price of $79,995, will be available in the U.S., Canada, and other markets, with production slated to begin in early 2025 at GM’s Spring Hill Manufacturing plant in Tennessee. With this ambitious lineup, Cadillac is poised to make a significant impact in the luxury EV sector and reshape the future of electric vehicles.
